Oil Wars Continue In Middle East

Sanctions continue imposing serious strains on the government of Iran even as it defies common sense in order to proceed with development of atomic bomb capability. Unfortunately for Iran, their buddies in Iraq are hell bent to develop oil production and become a dominant player in the oil game. Iraq oil production is now 2.5 million barrels a day, they will add another 500,000 next year, and by 2017 could produce 10 million barrels a day. So, who needs Iranian oil?

Of course, with oil money comes the inevitable corruption that leads some to become wealthy. Oil money is now an issue for the Maliki government which does not wish to share it with Kurds in the north. Ironically, Shiite Iraq may prove a key partner in the struggle to control Shiite Iran. The trouble with being guided by ideology in Iran is that reality is a more important factor.

Oil production is booming in America and elsewhere due to fracturing methods of extraction. If Iran had common sense, it would compromise.